Tundra provides Facebook updates on Russia/Ukraine situation

By: Jonathan Boyd | 03 Mar 2014

Frontier and emerging markets specialist Tundra Fonder, based in Stockholm, has issued a note to investor saying it will be providing updates via Facebook on the situation in Ukraine and the impact on markets.

In a note, the manager points out that at the time of writing, the Russian stock market has seen both a significant increase in turnover against the historical average, even as values of key stocks, such as Sberbank, have fallen through a trap-door – the bank is down 17% in dollar terms on the day. The price changes have taken the market’s P/E to 4x.

Russia’s central bank has had to raise its key policy rate 150bps to 7% to reduce pressure on the rouble.